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Derivatives (Tables)
 12 Months Ended
Dec. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Foreign Currency Derivative Contracts
As of December 31, 2019 and 2018, we had the following foreign currency derivative contracts outstanding in U.S. dollars (in thousands):
 
 
December 31, 2019
 
 
Notional
 
Contractual
 
Settlement
Derivative Contracts
 
Amount
 
Exchange Rate
 
Date
Canadian dollar
 
$
948

 
1.3182
 
3/16/2020
Euro
 
9,279

 
1.1180
 
3/17/2020
Norwegian krone
 
11,027

 
9.0688
 
3/17/2020
Pound sterling
 
16,057

 
1.3381
 
3/17/2020

 
 
December 31, 2018
 
 
Notional
 
Contractual
 
Settlement
Derivative Contracts
 
Amount
 
Exchange Rate
 
Date
Canadian dollar
 
$
2,248

 
1.3343
 
3/18/2019
Euro
 
6,967

 
1.1421
 
3/18/2019
Norwegian krone
 
7,713

 
8.5566
 
3/18/2019
Pound sterling
 
16,452

 
1.2655
 
3/18/2019
Schedule of Fair Value by Balance Sheet Location
The following table summarizes the location and fair value amounts of all derivative contracts in the consolidated balance sheets as of December 31, 2019 and 2018 (in thousands):
Derivatives not designated as Hedging Instruments
 
Consolidated Balance Sheet Location
 
December 31, 2019
 
December 31, 2018
Foreign currency contracts
 
Accounts payable and accrued liabilities
 
$
(324
)
 
$
(101
)
Impact of Derivative Instruments on the Income Statement
The following table summarize the location and amounts of the unrealized and realized gains and losses on derivative contracts in the consolidated statements of operations as of December 31, 2019, 2018 and 2017 (in thousands):
Derivatives not designated as Hedging Instruments
 
Location of gain (loss) recognized in income on derivative contracts
 
December 31, 2019
 
December 31, 2018
 
December 31, 2017
Unrealized gain (loss) on foreign currency contracts
 
Other income, net
 
$
(222
)
 
$
386

 
$
(634
)
Realized gain (loss) on foreign currency contracts
 
Other income, net
 
320

 
1,661

 
(1,699
)
Total net gain (loss) on foreign currency contracts
 
 
 
$
98

 
$
2,047

 
$
(2,333
)
Offsetting Assets
The following table presents the gross and net fair values of our derivatives as of December 31, 2019 and 2018 (in thousands):
 
 
Derivative Asset Positions
 
Derivative Liability Positions
 
 
December 31,
 
December 31,
 
 
2019
 
2018
 
2019
 
2018
Gross position - asset / (liability)
 
$
127

 
$
113

 
$
(451
)
 
$
(214
)
Netting adjustment
 
(127
)
 
(113
)
 
127

 
113

Net position - asset / (liability)
 
$
—

 
$
—

 
$
(324
)
 
$
(101
)
Offsetting Liabilities
The following table presents the gross and net fair values of our derivatives as of December 31, 2019 and 2018 (in thousands):
 
 
Derivative Asset Positions
 
Derivative Liability Positions
 
 
December 31,
 
December 31,
 
 
2019
 
2018
 
2019
 
2018
Gross position - asset / (liability)
 
$
127

 
$
113

 
$
(451
)
 
$
(214
)
Netting adjustment
 
(127
)
 
(113
)
 
127

 
113

Net position - asset / (liability)
 
$
—

 
$
—

 
$
(324
)
 
$
(101
)